Financials Workman Co.,Ltd.

Equities

7564

JP3990100004

Apparel & Accessories Retailers

Market Closed - Japan Exchange 02:00:00 2024-04-12 am EDT 5-day change 1st Jan Change
3,985 JPY +0.89% Intraday chart for Workman Co.,Ltd. +0.50% -4.21%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 465,192 484,779 647,188 408,879 457,030 325,226 - -
Enterprise Value (EV) 1 423,454 457,422 591,702 346,656 396,449 252,860 244,809 236,523
P/E ratio 47.4 x 36.3 x 38 x 22.3 x 27.4 x 20.1 x 19.1 x 17.9 x
Yield 0.64% 0.84% 0.81% 1.36% 1.21% 1.71% 1.75% 1.83%
Capitalization / Revenue 6.95 x 5.25 x 6.12 x 3.52 x 3.56 x 2.41 x 2.29 x 2.18 x
EV / Revenue 6.32 x 4.96 x 5.59 x 2.98 x 3.09 x 1.88 x 1.72 x 1.59 x
EV / EBITDA - 22.3 x 23.1 x 12 x 15 x 9.64 x 8.77 x 8 x
EV / FCF 50.9 x 104 x 35.3 x 27.7 x 43.8 x 16.5 x 18.9 x 16 x
FCF Yield 1.96% 0.96% 2.84% 3.61% 2.28% 6.06% 5.3% 6.26%
Price to Book 6.95 x 6.25 x 7.14 x 3.95 x 4 x 2.58 x 2.38 x 2.14 x
Nbr of stocks (in thousands) 81,613 81,613 81,613 81,613 81,613 81,613 - -
Reference price 2 5,700 5,940 7,930 5,010 5,600 3,985 3,985 3,985
Announcement Date 5/8/19 5/7/20 5/10/21 5/9/22 5/8/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 66,969 92,307 105,815 116,264 128,289 134,786 142,243 149,183
EBITDA 1 - 20,484 25,606 28,815 26,410 26,240 27,923 29,555
EBIT 1 13,526 19,170 23,955 26,802 24,106 23,726 24,956 26,620
Operating Margin 20.2% 20.77% 22.64% 23.05% 18.79% 17.6% 17.54% 17.84%
Earnings before Tax (EBT) 1 14,728 20,095 25,356 27,313 24,655 24,300 25,550 27,400
Net income 1 9,809 13,369 17,039 18,303 16,656 16,186 17,068 18,182
Net margin 14.65% 14.48% 16.1% 15.74% 12.98% 12.01% 12% 12.19%
EPS 2 120.2 163.8 208.8 224.3 204.1 198.3 209.1 222.7
Free Cash Flow 1 8,314 4,397 16,779 12,502 9,043 15,317 12,980 14,810
FCF margin 12.41% 4.76% 15.86% 10.75% 7.05% 11.36% 9.13% 9.93%
FCF Conversion (EBITDA) - 21.47% 65.53% 43.39% 34.24% 58.37% 46.49% 50.11%
FCF Conversion (Net income) 84.76% 32.89% 98.47% 68.31% 54.29% 94.63% 76.05% 81.46%
Dividend per Share 2 36.50 50.00 64.00 68.00 68.00 68.00 69.56 72.88
Announcement Date 5/8/19 5/7/20 5/10/21 5/9/22 5/8/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 41,886 - 48,713 57,102 25,761 55,295 36,483 24,486 60,969 33,327 26,881 60,208 40,636 27,445 68,081 35,305 30,275 65,580 40,582 28,331 67,100 37,000 31,800 43,500 29,600
EBITDA - - - - 5,876 - 10,399 - - - - - - - - - - - - - - - - - -
EBIT 1 8,642 10,528 11,073 12,882 5,456 12,604 9,981 4,217 14,198 7,459 4,700 12,159 8,608 3,339 11,947 7,111 4,880 11,991 8,687 3,017 - 7,000 5,100 9,200 4,200
Operating Margin 20.63% - 22.73% 22.56% 21.18% 22.79% 27.36% 17.22% 23.29% 22.38% 17.48% 20.19% 21.18% 12.17% 17.55% 20.14% 16.12% 18.28% 21.41% 10.65% - 18.92% 16.04% 21.15% 14.19%
Earnings before Tax (EBT) 9,326 10,769 11,763 - - 12,805 10,163 - - 7,605 - 12,429 8,765 - - 7,255 - 12,245 8,814 - - - - - -
Net income 1 5,802 7,567 7,372 9,667 3,371 7,999 6,314 3,990 - 4,766 2,982 7,748 5,460 3,448 - 4,565 3,040 7,605 5,481 3,184 - 4,500 3,300 5,800 3,800
Net margin 13.85% - 15.13% 16.93% 13.09% 14.47% 17.31% 16.3% - 14.3% 11.09% 12.87% 13.44% 12.56% - 12.93% 10.04% 11.6% 13.51% 11.24% - 12.16% 10.38% 13.33% 12.84%
EPS 2 71.10 - 90.33 - 41.30 98.02 77.37 48.89 - 58.40 36.55 94.95 66.90 42.25 - 55.94 37.25 93.19 67.16 36.25 - - - - -
Dividend per Share 2 - - - - - - - - - - - - - - - - - - - 68.00 - - - - 75.00
Announcement Date 11/5/19 5/7/20 11/9/20 5/10/21 11/8/21 11/8/21 2/7/22 5/9/22 5/9/22 8/8/22 11/7/22 11/7/22 2/6/23 5/8/23 5/8/23 8/7/23 11/6/23 11/6/23 2/5/24 - - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 41,738 27,357 55,486 62,223 60,581 72,366 80,417 88,703
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 8,314 4,397 16,779 12,502 9,043 15,317 12,980 14,810
ROE (net income / shareholders' equity) 15.5% 18.5% 20.3% 18.9% 15.3% 13.6% 13.1% 12.7%
ROA (Net income/ Total Assets) 18.9% 22.9% 24.2% 23% 18.9% 17.3% 17% 16.7%
Assets 1 51,996 58,450 70,545 79,513 88,092 93,562 100,598 108,655
Book Value Per Share 2 820.0 950.0 1,110 1,269 1,400 1,542 1,674 1,865
Cash Flow per Share 134.0 180.0 229.0 249.0 233.0 - - -
Capex 1 1,343 2,293 4,164 5,949 5,277 4,302 4,780 4,980
Capex / Sales 2.01% 2.48% 3.94% 5.12% 4.11% 3.19% 3.36% 3.34%
Announcement Date 5/8/19 5/7/20 5/10/21 5/9/22 5/8/23 - - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

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